 Home > Chemicals Industry > International Chemical > Oil prices fall due to OPEC+ concerns about slow demand recovery

Oil prices fall due to OPEC+ concerns about slow demand recovery

 Last Update: 2021-09-04
 Source: Internet
 Author: User

Tags

emu oil walgreens

calamus essential oil

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

According to CNBC website news on March 31: After OPEC and its allies lowered their expectations for demand growth in 2021, concerns about market recovery caused oil prices to fall on Wednesday
.

The price of May Brent crude oil due on Wednesday fell 32 cents to $63.
82 per barrel, a decrease of 0.
5%
.

The more active June Brent crude oil contract price fell by 30 cents to close at $63.

US West Texas Intermediate (WTI) crude oil futures fell 28 cents to 60.
27 US dollars a barrel, a 0.
5% decline
.

An OPEC expert group meeting report showed that the organization has reduced its oil demand growth forecast for this year by 300,000 barrels per day
.

OPEC will hold a meeting on Thursday to determine production policy
.

Commerzbank analyst Eugen Weinberg said: “Given this pessimistic outlook, the production quota seems likely to be maintained for another month
.

”

OPEC+ is currently cutting its daily output by more than 7 million barrels to support oil prices and reduce oversupply
.

Saudi Arabia added another 1 million barrels/day of output reduction

Rystad Energy analyst Louise Dickson said: “Today the oil market is still speculating on what supply policy OPEC+ will formulate at tomorrow’s meeting, but the Brent crude oil price of $64 per barrel shows that traders expect the organization to take a cautious approach Practice
.

Kuwait’s Oil Minister Mohammad Abdulatif al-Fares expressed “cautiously optimistic” that as the new crown virus vaccination plan accelerates and industrial output resumes, global oil demand will improve

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

Related Products

UV-119

CAS No.: 106990-43-6

$6-7/MT FOB

UV-622

CAS No.: 65447-77-0

$5-6/MT FOB

Isopropyl Ethyl Thionocarbamate IPTEC CAS 141-98-0

CAS No.: 141-98-0

Industrial Grade

$100-120/MT FOB

Hot Tags

united states jobs(223)

jobs united states(236)

1 year treasury(277)

1 year subscription(296)

single use technology(195)

announcements today(81)

ups united states(221)

united states logo(227)

80 20 company(94)

healthy food name(42)

Hot Articles

The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.